FIT, GPRO update August 8

Two tickers that have been washed out and are not liked and thus have great long term upside potential

FIT (Fitbit): Looks like 5 waves down for yellow c to $11.70. May do gap fill of the early-May gap first. Break above red iv at $18.50 targets $24.50.

FIT

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GPRO: Also here we can count 5 waves as completed from the yellow b-wave high made August 2015. Break above the red iv high targets $21ish  based on symmetry. Again, if this ticker is in a new bull it will eventually surpass it’s ATH.

gpro

the daily TI chart looks good as price broke above the upper blue trendline and 200d SMA, which is now support. As mentioned, symmetry targets $20 (distance between green and blue horizontal S/R added to blue); which is right at the prior (grey) iv S/R level. Note the parallel black (and blue) trend lines, which is where we should find price to hit highs and lows.

gpro 2